T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 74.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 127,758 shares of the asset manager’s stock after acquiring an additional 54,584 shares during the period. Cerity Partners LLC owned approximately 0.06% of T. Rowe Price Group worth $11,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Curio Wealth LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in T. Rowe Price Group during the 1st quarter worth approximately $39,000. Chilton Capital Management LLC purchased a new stake in T. Rowe Price Group during the 1st quarter worth approximately $41,000. Finally, Ameriflex Group Inc. purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $42,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of TROW opened at $102.26 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a market cap of $22.53 billion, a P/E ratio of 11.59, a PEG ratio of 3.10 and a beta of 1.49. The stock has a fifty day moving average price of $95.65 and a 200 day moving average price of $98.98.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the business posted $2.38 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 4.97%. T. Rowe Price Group’s dividend payout ratio (DPR) is 57.60%.

Analysts Set New Price Targets

Several research firms have issued reports on TROW. Citigroup dropped their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Bank of America lowered their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.82.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.